China’s ex­ports surge, im­ports plunge

China Daily (Canada) - - FRONT PAGE -

China’s trade re­bounded in Fe­bru­ary with ex­ports surg­ing 48.9 per­cent in Fe­bru­ary from a year ear­lier, but im­ports plunged 20.1 per­cent in an­other sign of con­tin­ued weak­ness in the world’s sec­ond-largest econ­omy.

Ex­ports reversed the 3.2-per­cent decline in Jan­uary. How­ever, the decline in im­ports ac­cel­er­ated from the pre­vi­ous month’s 19.7-per­cent fall, ac­cord­ing to data from the Gen­eral Ad­min­is­tra­tion of Cus­toms (GAC).

The value of Fe­bru­ary ex­ports amounted to 1.04 tril­lion yuan ($169.11 bil­lion) while the value of im­ports was 666.1 bil­lion yuan, re­sult­ing in a widen­ing trade sur­plus of 370.5 bil­lion yuan.

China’s de­mand for raw ma­te­ri­als such as iron ore and coal shrank as eco­nomic growth slid last year to its low­est level since 1990.

The coun­try has been striv­ing to lessen its re­liance on in­vest­ment and for­eign trade by fos­ter­ing growth driven by do­mes­tic de­mand. (Photo 3)

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